A Pound of Ground Coffee Cost $2

question 28

Multiple Choice

A pound of ground coffee cost $2.47 in 1992 and $6.50 in 2016. The ground coffee price index number (1992 = 100) for 2016 is:

• A) (6.50/2.47) × 100 = 263.2.
• B) (2.47/6.50) × 100 = 38.0.
• C) (6.50 - 2.47) × 100 = 403.0.
• D) (6.50 - 2.47)/(2016-1992) = 0.168.
• E) (6.50 - 2.47)/(2016-1992) × 100 = 16.8.

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